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Jimu News reporter Zhou Dan

On the evening of August 15, Alibaba Group released its latest quarterly results. AI drove Alibaba Cloud back to growth, with quarterly revenue increasing by 6% to 26.549 billion yuan, of which AI-related product revenue achieved triple-digit growth and public cloud business achieved double-digit growth. At the same time, Alibaba Cloud's profits soared, with adjusted EBITA profits increasing by 155% year-on-year, reaching 2.337 billion yuan in a single quarter.

In this quarter, Alibaba Cloud focused on the "AI-driven, public cloud first" strategy and continued to expand its technology and scale advantages. The financial report shows that Alibaba Cloud's external revenue (excluding Alibaba's affiliated companies' cloud revenue) also increased by 6% year-on-year, mainly due to AI-driven adoption of related products and double-digit growth in public cloud business. Among them, AI-related product revenue continued to maintain triple-digit growth in this quarter after achieving triple-digit growth in the previous quarter.

At the same time, Alibaba Cloud's profits soared. In the quarter, Alibaba Cloud's adjusted EBITA revenue increased by 155% year-on-year to RMB 2.337 billion, compared with RMB 916 million in the same period of 2023. The financial report stated that this growth was mainly due to the focus on public cloud strategy and improving operational efficiency, but the profit growth was partially offset by continued investment in customers and technology.